Why gender matters
Women are the largest growth opportunity, representing half of the university students and by 2028 controlling 75% of discretionary spending.
What is inarguable is the emergence and proliferation of a female economy influenced by women not just as consumers, but as wealth creators, wealth managers, opinion shapers, philanthropists. This trend is not just confined to the West, but is prevalent in developing economies.
The UN puts achieving gender equality at no 5 on the list of 17 Sustainable Development Goals, not just for the sake of individual women but for the prospects of the global economy and society at large.
Banks who have signed the UN principles of responsible banking have defined their purpose as helping to develop sustainable economies and empower people to build better futures. The responsible banking principles state that Banks need to improve the impact on people and environment resulting from the activity products and services. This requires efforts to extend beyond the workforce to business partners, contractors, suppliers, customers and the community at large.
Smart companies are watching this trend. Coco Cola see 5m women as part of its global supply chain. Walmart understand the power of women led firms innovating compelling products. The financial sector globally, needs to galvanise it’s effort to seize the scale of the opportunity, viewed through the gender lens.
Scale of opportunity
As a market for the fs sector
US$1.7trn – estimated women’s insurance demand
Source: She for Shield – an IFC, Axa and Accenture publication
As a market for the fs sector
US$800bn – US$980bn estimated unmet MSME’s credit demand in emerging economies
Source: IFC banking on women
As purse string holders
US$28trn .. Annual consumer
spending controlled by women
As wealth investors
US$72trn private wealth is held by women globally
Source: Harvard and Boston Consulting Group
As a growing labour force
870m women will participate in the labour market for the first time in 2020
Source: Oxford University, World Bank
As value contributors
Gender balanced teams have higher valuation increased 64% – v – 55% – US$3rn is invested in gender balanced eam
Source: Gender Equality in Private Equity – an IFC publications
As wealth creators
c40% of registered SME’s globally have been created by women
Source: Global Entrepreneurship Monitor
As contributors to trade and sustainability
$28tn can be added to global trade by women owned sme’s
Source: ITC, She Trade
Our work in this sector in both developing and developed markets continues to define the need for firms to transform themselves to be inclusive and gender smart, in order to harness the female commercial potential.
It’s as much about the external offer as it is about the cultural mindset and the way the organisation does business.
With the female economy here to stay, please contact us to discuss how your firm should address this opportunity.
Let's work together
We would be delighted to discuss your requirements and our solutions.
Please contact Sabila Din.
Office hours: 9am to 5pm (GMT)